BoA CLI Question

[Anonymous]

Got the BOA Cash Rewards Visa on 8/23/16 with only a $2500 SL. Basically exactly 30 months ago. I've ran about $3500 total between purchases and a BT. I've paid it in full before statement cuts each month.  BOA is my secondary bank (primary is a local CU). I have checking, savings, car loan, also a Merrill Edge CMA account for playing around with some stocks. Total of about $20,000 in assets with them currently.

Question..should I wait a bit longer before pulling the trigger on the CLI Request link that showed up today or wait? My utilization will go up to around 19% once most of my accoutns update in the next couple of days. Everything cycles around the 20th-23rd...right now it shows 12%, but also I'll have 3 acounts reporting with limits at $20,000? I'd like to get the card to $20-$25K. Last HP was Barclay for CLI to $20K on Oct 27th. TU score is 711

**** UPDATE 11-24-16 ****

Well, I bit the bullet...requested $20K got instantly approved for a new TCL of $5800 ($3300 increase). Link was still there so I tried $10K and that got me a 7-10 Day notice...called into BofA Cust Service and got transferred after some reluctance to a credti analyst...no option to recon...

I should probably be happy...really thought I would be able to get them to at least the $10K mark, but looks like it's back to spend / PIF ... repeat...until they think I'm ready for another....

[Discover2016]

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@Anonymous wrote:

Got the BOA Cash Rewards Visa on 8/23/16 with only a $2500 SL. Basically exactly 30 months ago. I've ran about $3500 total between purchases and a BT. I've paid it in full before statement cuts each month.  BOA is my secondary bank (primary is a local CU). I have checking, savings, car loan, also a Merrill Edge CMA account for playing around with some stocks. Total of about $20,000 in assets with them currently.

Question..should I wait a bit longer before pulling the trigger on the CLI Request link that showed up today or wait? My utilization will go up to around 19% once most of my accoutns update in the next couple of days. Everything cycles around the 20th-23rd...right now it shows 12%, but also I'll have 3 acounts reporting with limits at $20,000? I'd like to get the card to $20-$25K. Last HP was Barclay for CLI to $20K on Oct 27th. TU score is 711

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I would say go for it now, BofA can be amazing with CLI's! Keep us updated.

[Discover2016]

Also wanted to add that I got my CashRewards to very high limit even though my other limits were not as high, so it might not be necessary to wait until other limits update to 20k.

[Anonymous]

My experience is, it's a HP EVERY time, and they will only give me a CLI every six months (so far...waiting until Jan to see what happens then).  CLI was generous, so ask for the moon, but I would personally recommend waiting 3 more months.

[Benzman]

I can't ever complain about BOA CLIs.

I asked for 8K and they gave me 10K.

Always a HP, usually on TU. I usually wait 6 months between CLi askings.

[Anonymous]

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@Anonymous wrote:

Got the BOA Cash Rewards Visa on 8/23/16 with only a $2500 SL. Basically exactly 30 months ago. I've ran about $3500 total between purchases and a BT. I've paid it in full before statement cuts each month.  BOA is my secondary bank (primary is a local CU). I have checking, savings, car loan, also a Merrill Edge CMA account for playing around with some stocks. Total of about $20,000 in assets with them currently.

Question..should I wait a bit longer before pulling the trigger on the CLI Request link that showed up today or wait? My utilization will go up to around 19% once most of my accoutns update in the next couple of days. Everything cycles around the 20th-23rd...right now it shows 12%, but also I'll have 3 acounts reporting with limits at $20,000? I'd like to get the card to $20-$25K. Last HP was Barclay for CLI to $20K on Oct 27th. TU score is 711

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Go for it now. The HP should be good for 30 days.You can aim high, let them counter. And either call to recon the increase, or hope the request increase shows up again later in the 30 days.  I would just ask now for 20k let them counter, and maybe by the time you call in to recon everything will update. Boa is usually very good to people.

Or you could avoid the HP entirely and use the card more and hope for a SP cli.  Also when you call in, ask for an APR reduction.

Are you a preferred client where you get more than the 10% added bonus for rewards redemptions? If so, you may want to consider a PC to travel rewards. OR is that 50k assets to get the bigger bonus?

Oh wait, you have only had the card not even 90 days. Ok. I misread and thought you said 30 months.  Well, the link is there so why not, esp since you are in an intro period and probably get recurrent BT offers on the card plus whatever cash back BOA deals.

If you have all that relationship with BOA have you considered the ML card that has the 50k bonus after 3k spend, no AF, basically 1k in flights or 500 cash?  You may want to apply for that later on before the bonus leaves that pair the app with a BBR.

The score sweet spot for BOA seems to be 720 (right guys?).  So anything to get your utilization below 10 would probably negate the score affects from the HP cli or HP for a new account.